The Winklevoss Twins Are Launching Gemini Block Trading for Major Transactions
The Winklevoss cryptocurrency exchange Gemini has introduced the Gemini Block Trading service, which allows investors to make large transactions bypassing the stock exchange order book. Gemini Block Trading will allow the major figures in the cryptocurrency world to execute large transactions outside the constantly updated exchange books, where one transaction can have a negative impact on the market as a whole. A Gemini report on the 9th of April says that Gemini Block Trading will start operating on the 12th of April. It will electronically simultaneously transfer large orders to participating market makers, and information about the transaction will be published in the Gemini stock quote feeds 10 minutes after the transaction is completed. The minimum transaction size for a "block" should be 10 Bitcoins or 100 Ethereums. Until recently, block deals were possible only within the limits of over-the-counter trading, through market-makers or investors wishing to risk trading outside the exchange. Subscribe to The Coin Shark news in Telegram: